Reaching out to the small- to mid-scale retirement plan market, the WM Group of Funds
has launched two types of R shares, the company announced Friday.
The Seattle-based subsidiary of Washington Mutual
began offering Class R-1 and Class R-2 shares on March 1, 2006. In a press release, Debra Ramsey
, president of WM Funds Distributor, Inc., said the offerings are part of a wider effort to appeal to plan sponsors and advisors.
The Class R-1 shares are specially designed for micro to small employer-sponsored plans. They will entail 12b-1 fees of 80 basis points, with 75 bps paid to broker-dealers. The R-2 shares cover the requirements of small to mid size plans, and involve 12b-1 fees of 55 basis points, with 50 going to broker-dealers.
The company has made these shares available to all employer-sponsored plans, including both DC and defined benefit plans.
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